India is setting up a new model for outside investment in its oil and gas sector. But as Mriganka Jaipuriyar notes in this week’s Oilgram News column, At the Wellhead, it isn’t getting rave reviews just yet.
Posts Tagged ‘India’
By Mriganka Jaipuriyar | December 15, 2014 12:01 AM Comments (0)
By Elizabeth Bassett | November 21, 2014 08:36 AM Comments (4)
November is thankfully on its last
legs days, and we’re already exhausted. We knew the month would bring lots of big news topics (such as this one, which reminded me of this, because I’d love to see a rock opera about oil), as we discussed in our original Oil Big Five listing for the month. Then there were other items that didn’t make the list that also drew a lot of attention, from us and from others.
To feature reader comments today, we want to draw attention to the comments on our post about comments, which is very meta. We enjoy hearing from you, as these posts are intended to start conversations and discussions (even arguments!), and we think your comments are one of the highlights of this series.
By Paul Bartholomew | September 12, 2014 11:02 AM Comments (0)
India’s steel sector has been generally positive about new Prime Minister Narendra Modi’s first 100 days in office, which he marked on September 3. Formerly the Chief Minister of Gujarat state for more than a dozen years, Modi presided over strong economic growth in that region, an achievement Indians are hoping to see extended across the entire country.
India has been crunching the gears economically for several years while its big rival China, unencumbered by the democratic process, has motored ahead. Steel projects have foundered due to difficulties in gaining land access–most notably Korean giant Posco’s planned 6 million mt/year capacity works in the south of India–while decrepit infrastructure makes transporting raw materials inside the country expensive and challenging.
By Vandana Hari | August 29, 2014 07:07 AM Comments (5)
The new Narendra Modi government in New Delhi prolonged the suspense this week over what tack it will take on the controversial domestic gas pricing issue.
It had been expected to signal which way it is inclined ahead of a September 30 deadline to announce its final decision on gas prices.
By Elizabeth Bassett | June 3, 2014 12:01 AM Comments (1)
This is our second installment of The Oil Big Five, where we ask Platts oil experts around the globe to outline five big trends or factors affecting the oil industry. We were glad to hear from you, our readers, on our first post, and we featured your top responses in our follow-up post. Be sure to leave us a comment and tell us what you think about our picks as well as what you see as the biggest influences in your part of the industry.
By Mriganka Jaipuriyar | May 20, 2014 09:19 AM Comments (0)
There is a lot riding on India’s new government. Tired of a lackluster economy, Indians have single-mindedly elected the BJP — led by Narendra Modi–in the hope that he will do what it takes to rev up the country’s engines.
Energy is obviously going to play a critical role as India’s economy shifts gear. So, what can the Indian oil and gas industry expect in the coming years? The answer: a lot.
The previous government had already started the process of reform in the industry, and the BJP is likely to take that forward full throttle.
By Elizabeth Bassett | May 9, 2014 02:35 PM Comments (2)
At the beginning of the month, The Barrel debuted The Oil Big Five, our round-up of the top five big trends or factors affecting the oil industry worldwide. The topics were chosen by our oil experts in offices around the globe, and we asked you to weigh in. What do you think are the most influential things for your markets and business?
Today, we wanted to share the comments that you, our readers, sent our way. Remember, it’s not too late to comment on the original post (or on this one), and we’ll have another summary of our Platts picks for the next month in just a few more weeks.
By Mriganka Jaipuriyar | April 18, 2014 11:36 AM Comments (2)
India’s oil and gas sector saw some unprecedented decisions taken last year under the Congress Party-led government.
These ranged from a partial deregulation of diesel prices to a new gas pricing mechanism that would have seen the wellhead price of gas double to over $8/MMBtu. However, the hike — which was ratified twice by the Cabinet — was never implemented as scheduled on April 1 due to India’s upcoming elections.
The Congress-led government last year also started revamping and streamlining upstream policy to incentivise exploration and production.
All in all, 2013 was a busy year for journalists as we struggled to keep pace with and understand all that was going on in India’s energy sector.
By Mriganka Jaipuriyar | February 25, 2014 01:18 PM Comments (1)
India’s financial reporting season never fails to remind us of the fragile state of the country’s state-owned oil marketing companies whose profits swing wildly from quarter to quarter. Those moves are not for any fundamental reason, but because they may or may not have been reimbursed by the government for losses incurred from selling diesel, LPG and kerosene at below market prices.
But these companies — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. Ltd. — are usually fully compensated by the end of the financial year, which runs from April to March in India.
Until they get compensated, they rely on market borrowings to fund their operating expenses and the longer the non-payment period, the higher their interest costs on these borrowings. But the bottom line is that they get compensated.